New Intermed Uptrend!!

[misty]

Should I Get Into Arvind Mills Now If Yes With Wat Stoploss Pls Reply

 

[garun1979]

Hi Gaurav,

On EIH ASSOC ,I 'd take some off the table,and hold the rest.

MOLD TEK :For now,I'd do nothing.Better to keep on a watch for now.Would be interesting if it can put in an end of the day close of over 50.Let it demonstrate some strength before we do something.

Saint

Hi Sanit,

EIH Associated closed at 165 odd six trading sessions back after a rally to 215..but in the last 5 trading session it has hit the 5 percent freeze..today it has closed at 209.65.

Confusing signals..do i hold on or take some off..

btw Aban's buisness OIL E & P wud be granted infrastructure staus in this budget so we cud look forward to some more fireworks...

Also need ur advice on WELSPUN INDIA (code - 514162; cmp - 104).. has been in a down trend like its other textile siblings..am holding from the level of 110

Thanks a lot.......and congrats on hitting 2K as the Sensex hit 10K...all the best for 10K to u as well

Gaurav

 

[sam]

Hi Saint - How r u doing?

Ranbaxy showed a smart move today with a gain of around 6 percent!! Any implications from here in the charts?? Is the bearish phase over - I mean - any signs of a trend reversal??

And Petronet LNG is slowly falling...what does the charts say?? Any signs of improvement in a short to medium term - any???

Looking Forward and Thanks in advance, as usual, for the Great work u people are doing in here!!

-Sam.

 

[Saint]

Re: Aksh Optifibre | Your comments please

Hi Partha,

Let me add my 2 bits before Saint gives his expert comments. I had entered into this one at 66. My comments are as follows -

1. Aksh fundamentals are good. The recent quarter results are per or better than expectations. On relative valuations basis, Aksh is not over valued.

2. With Sensex crossing 10K, money apparently is flowing into front line stocks. It seems investors are getting out of other stocks and entering the stocks that is attracting new foreign money. When that happens, small cap stocks like Aksh are badly hit. I guess this is one reason why Aksh may be gowing down.

3. Your inferences are right. It is forming a crude decending triangle. Other indicators are not looking good either. RSI is showing weakness in the stock. TRIX shows a down trend. MACD is negative and volumes going below their monthly avg. It has support in the 70-71 zone. I suggest you put a stop loss at 70 and wait and watch.

4. It is not looking good even on the weekly charts. Monthly charts show that the recent resistance of 69 is acting as support after that breakout. ADX shows the uptrend is not loosing strength. MACD is positive and at its peak.

5. A lot of "smart" money has been flowing into this stock for last few quarters. The monthly charts show a topping off of MFI. We may see money leaving the stock below the 70 level.

All in all, its a HOLD if you can wait for another quarter or two. Else you can book the loss (you said its a small investment) while its still small ! There are many other opportunities.

Hope that helped.

Mohan

Great stuff,Mohan........keep em coming!

Saint

 

[Saint]

Re: Aksh Optifibre | Your comments please

Hi Saint/Members,

I am very new to the market and technical analysis. I had made a small investment in Aksh Optofibre @ 73.75, it is now quoting at 70.55 . When i bought this share i had a look at its fundamentals and its announcements at BSE and it looked good to me. But today i had a look at its chart on BSE and I kind of concluded :

1. It's forming a descending triangle.
2. The MACD has fallen below the the 0-base line which is not a good sign.

Now my questions
1. Have I read the chart correctly perticularly the trend lines.
2. Are my resonings/inferences correct
3. Should i hold on to aksh optifibre
4. Any updates on the fundamentals, are they still stong

Please do reply.
Thanks and regards

-Partha

Hi Partha,

Great post by Mohan as an answer to your post already.(Check previous post above).

As was indicated by Mohan,keep your stop losses at 70.Get out if triggerred.If you want to give it some latitude,put your stop loss below the previous pivot low at 67.But that's it......don't take any more punishment after this area.

Saint

 

[Saint]

Saint Can U Pls Suggest Me A Strategy 4 Balrampur Chini .i Wanna Enter Or Shud I Buy Any Other Stock.thanks In Advance

Hi Misty,

BALRAMPUR CHINNI has had a great move up so far.But frankly I feel that although it may go higher from here,odds of some sort of a consolidation is higher,either sideways or down.Not saying that we can't go up a bit more though.

As an entry strategy,best to wait for a pullback for an entry.

We may miss the move,but....."Better to be on the ground wishing you were in the skies,than to be in the skies wishing you were on the ground."--from one of the many thousands of books that I read and therefore unable to place the author of the above quote.

All the best!
Saint

 

[Saint]

Re: KRBL and ZUARI INdUSTRIES

Dear Saint and Traderji,

I'm a new member of your community, and new to the stock market. I would appriciate your comments on KRBL and ZUARI---technical an fundamental--- both are trading at life time high and with above average volume.

Thanx,

Kumar

Hi Kumar,

ZUARI INDS :Nice breakout to new recent weekly highs.But at an area of supply here.Look to enter on a pullback only if not in.Hold if in already with a stop loss at 136.

KRBL :Same here.Enter on a pullback only.If already in,trail stop it upwards.For now raise your stops to 137.

Happy Trading!
Saint

 

[Saint]

Hi Saint,

Could you please give your opinion on the following:

--Pantaloon
--3i Infotech
--Harrison Malayil
--Guj Fluorochemical
--Indo Gulf

Thx in adv.

Regds,
Jay Raj

Hi Jay Raj,

Am sorry for this rather late reply.Owing to a shortage of time and energy,I hope you don't mind my answers being short.

PANTALOON RETAIL resuming you meant this,and not Pantaloon Inds.Pantaloon Retail is looking great.It is still sitting in an ascending triangle ready to explode upwards.Buy Here and add over 1860.Target of 2450.Stop of 1550.

HARRISON MALAY... :Great move this week.But am uncomfortable at theses levels.But a pullback to 135-140 and holding may make it more juicy.Keep it on your watchlist.

Shall answer the others later.

Saint

 

[Saint]

Originally Posted by jraj
Hi Saint,

Could you please give your opinion on the following:

--Pantaloon
--3i Infotech
--Harrison Malayil
--Guj Fluorochemical
--Indo Gulf

Thx in adv.

Regds,
Jay Raj

Hi Jay Raj,

GUJ FLUORO.... :Another nice ascending triangle ready to see new highs.Has been hereabouts from Aug 2005.Buy here with a stop at 322 and a tgt of 635.Meanwhile trail stop as always.

INDO GULF :Nice,another sideways pattern ready to take off.Buy here with a stop at 205 and trail stop upwards.There is a neg divergence on the TRIX however,but we are up till it's time to be down.No use forecasting and guessing the top.........for now we are bullish till trends change.

All great finds!

Saint

 

[Saint]

Saint, Is IDFC a buy at CMP?

Hi NK,

IDFC :So far lower pivot highs and lows.Sitting in a symm triangle for now.A break above 71.5 is taking out the previous pivot high and a break out of this triangle,thereby telling us that a change in trend to the upside is in progress.Buy at 72 with a stop loss at 67.5 and a first target of 86.

Happy Trading!
Saint